(A) Debited to Joint Venture A/c
(B) Credited to Co-venturer A/c
(C) Credited to Joint Venture A/c
(D) Credited to Joint Bank A/c
Category: Accounting Mcqs
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Loss on Joint venture is __.
(A) Credited to Profit and Loss A/c
(B) Debited to co-venturers capital A/c
(C) Credited to Capital Fund A/c
(D) Debited to Suspense A/c
Which of these is not a part of double entry system?
(A) Joint Bank A/c
(B) Memorandum A/c
(C) Joint Venture A/c
(D) Joint Venture with other co-venturer A/c
What does the balance in Memorandum Joint Venture A/c shows__.
(A) Profit or Loss
(B) Closing Stock
(C) Balance due from other Co-venturer
(D) Difference in Trial Balance
As per Partnership Act, which of these rights are available to a partner __.
(A) Bonus
(B) Salary
(C) Commission
(D) Equal profit
If the consignee is allowed del credere commission, then he bears __.
(A) All sales promotion expenses
(B) Loss due to bad debts
(C) Loss due shortage of goods
(D) All routine expenses in connection with the goods
Balance left in Consignment A/c shows __.
(A) Profit or loss on consignment
(B) Stock lying with the consignee
(C) Stock lying with the debtors
(D) Stock awaiting approval
Del credere commission is allowed to __.
(A) Consignee
(B) Consignor
(C) Agent of consignee
(D) Debt collection agency